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223 E 89th St, New York, NY...

Andy Weiss & Andrew Dansker Of Marcus & Millichap Represent Buyer In $6.6M Multifamily Acquisition On UES
FINANCEDMultiFamily

Andy Weiss & Andrew Dansker Of Marcus & Millichap Represent Buyer In $6.6M Multifamily Acquisition On UES

223 E 89th St, New York, NY 10128, USA

$6,600,000

$63/SF

Building Size

104,650 SF

Asset Type

MultiFamily

Closing

Jun 27, 2019

AI

The multifamily property located at 223 East 89th Street in the UES neighborhood has been involved in a closed transaction. The property spans 10,471 square feet and was sold for a total of $6,600,000. The property is owned by Jose Serruya and was financed by Ridgewood Bank. The deal was facilitated by Andy Weiss and Andrew Dansker of Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Square Footage: 10,471
  • Address: 223 East 89th Street
  • Market: UES
  • Lender: Ridgewood Bank
  • Landlord: Jose Serruya
  • Brokers: Andy Weiss, Andrew Dansker - Marcus & Millichap

Andy Weiss and Andrew Dansker, representing Marcus & Millichap, played a crucial role in the completion of this transaction. Their expertise and negotiating skills helped secure the sale of the multifamily property at 223 East 89th Street.

Players

Andrew Dansker

Broker

$26.6M

vol

2 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93